News Corp. Reports Q2 2010 Earnings Of $254 Million
News Corp earned $254 million in its second quarter 2010 results, up from a loss of $6.4 billion a year ago (which was due to a massive restructuring charge).
Revenue increased 10 percent to $8.7 billion thanks to growth at all of News Corp’s sectors, except for its Integrated Marketing Division, and then only because the company paid out $500 million to settle a lawsuit against that division.
Fox News Channel grew revenue 51 percent and claimed triple the viewership of its nearest competitor.
At the Wall Street Journal, increased advertising revenues helped push News Corp’s newspaper division profits to $259 million.
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